Thursday, January 29, 2009

Position yourself as a small business bank & promote your credit card, too.

Bank marketing execs who wish to court small business might take a lead from a Turkish bank. GaranatiBank, headquartered in Istanbul, is running their third “Turkey’s Women Entrepreneur Competition”. Their goal is to draw the public’s attention to women’s “entrepreneur soul” and help increase their numbers in Turkey to match that of other emerging countries. And, they want to “help increase women entrepreneurs’ contribution to the Turkish economy overall.” The bank is also looking for social entrepreneurs who are involved in environmental, cultural , social or educational issues.

During tough times, show small business a little respect. . . and position yourself as a small business advocate.
Now, when many American small businesses are facing an uphill battle, a little recognition from the local banking industry might be in order. A similar competition would help position your financial institution as a small business bank and gain you some well-deserved advocates and customers.

What’s even more interesting about the Turkish bank promotion is their reward system. Winners receive a bank credit card loaded with a specific amount:

1st Place: 20,000 TL (Turkish Lira) (approx. $12,000) loaded on Garanti’s credit card

2nd Place: 15,000 TL (approx. $9,150)

3rd Place: 10,000 TL (approx. $6,100)

Social Entrepreneur: 5,000 TL (approx. $3.050)

A great way to promote their Bonus Credit Card, too. . . and perhaps yours, too!


Tom Carrese said...

I couldn't agree more. Banks are more than happy to take money from the U.S. government's generous "bail out" package, yet they seem bent on keeping it hidden under their collective mattresses until a diety from beyond officially declares, "the recession is over".

Banks, big and small, local and global need to put their money where their mouth is. Running stale branding messages until the cows come home isn't going to change a thing with this economy. By marketing to small businesses, banks will position themselves as advocates for local economies and the local business owners that make an economy stronger.

When banks begin educating communities on responsibility and conducting workshops for small business owners they'll not only see more wealth in the community, but more deposits and deal flow through their branches.

It's high time the banking community embraces the business community by getting down from their high horses and walk along side the real risk takers that allow a bank to be a bank.

Let macro economics meet micro marketing.

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